CTS Eventim Reacquires Majority Stake In FKP

Scorpio By acquiring a majority stake in FKP Scorpio, Germany’s biggest promoter and ticketing company strengthens its access to festivals such as Hurricane, Southside, Highfield, Chiemsee Summer, M’era Luna, Deichbrand.

And that’s just in Germany: FKP also promotes Provinssi in Finland, Bravalla in Sweden, Northside in Denmark, Greenfield in Switzerland, Nuke in Austria, and Best Kept Secret in Holland. Besides the festivals, FKP and its subsidiaries are also touring partners in different European territories for acts such as Foo Fighters, Justin Bieber, Ed Sheeran, James Blunt, Mumford & Sons, and Blink 182.

Overall FKP is responsible for more than 10,000 concerts, festivals and shows a year, generating revenues of more than euro 100 million in 2015.

CTS Eventim bulked up its shares in FKP from 45 to 50.2 percent. Besides strengthening its position as Germany’s biggest ticketing company, this means that Eventim will now be able to include FKP revenues in its own balance sheets, which may come in handy after having reported a decline in live income in its first-quarter results.

The deal is still subject to regulators’ approval by Germany’s antitrust regulators, who are already in the midst of investigating a possible breach of competition laws. The company remains confident it has not done so.

CTS Eventim is estimated to control about 70 percent of the German live entertainment market. FKP first sold a majority stake of 50.2 percent to Eventim in 2000. Ten years later, Eventim sold some shares, bringing its stake in FKP back down to 45 percent.